Dubai’s thriving resale market for ultra-luxury villas is dominated by cash buyers who want ready properties and no risk, a new market analysis by fam Luxe shows. The study revealed that the resale market for villas above US $10.9mn recorded 169 resale transactions valued at $3.15bn in 2025, of which only 15.7% of which were mortgaged.

It showed 98% of resale villa transactions last year were for fully completed properties, with just 2% for homes under-construction, compared with the resale market for apartments where 28% of transactions were off-plan.

Firas Al Msaddi, CEO of fam Properties, says the resale market shows what buyers actually want because it is not influenced by leverage or short-term speculation.

“Demand for luxury villas is overwhelmingly concentrating on completed product,” says Al Msaddi. “This is happening because villas are personal assets, delivering privacy, scale, layout, light, finishes, and surroundings which can’t be verified before completion. Luxury villa buyers do not tolerate uncertainty because they do not need to. They are not chasing yield, they are allocating capital into lifestyle, privacy, and long-term security.”

Data from DXBinteract gives a breakdown of ultra-luxury villa resales for 2025 as follows:

• $750mn traded in the $10.9-$13.6mn range
• $950mn traded in the $13.6mn-$19mn range
• $500mn traded in the $19mn-$27.2mn range
• $670mn traded in the $27.2mn-$54.5mn range
• $196mn traded in the $54.5mn-$81.6mn range
• $90mn traded in the $81.6mn-$163mn range

The clearest signal of market strength sits in the $19mn-$27.2mn villa segment, where annual resale value was highest for the last 3 years, rising from $650mn in 2023 to $900mn in 2024 and $950mn last year. Only 24 of the 159 deals in that period were mortgaged.

Nordic by fam, the company’s development arm, consequently adopted a build-first approach for its $820mn portfolio of luxury villas under development in Dubai, which are made available only after being finished and furnished.

“Buyers at this level wait for completion because they want to walk the land, experience privacy, inspect finishes, and understand surroundings, light, and noise, which can only happen after completion. This is an ultra-luxury sector where buyers deploy capital carefully for wealth preservation, demonstrating the patience that defines stable markets globally,” said Al Msaddi.

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Developer Tasmeer Indigo Properties has unveiled SquareX One, its latest residential development in Jumeirah Village Circle (JVC). The launch was marked by a ground-breaking ceremony on-site, following the market response and near sell-out success of the company’s debut project, SquareX Residence. This milestone signifies Tasmeer Indigo’s transition from concept-led development to execution-focused delivery, the developer said.

The developer said that enabling works have commenced, with project completion targeted for March 2028. This reflects disciplined construction planning and a clear execution roadmap, it noted.

SquareX One will offer lifestyle and wellness experience that are uncommon in its segment. A signature lazy river serves as the centerpiece of the development, complemented by carefully curated wellness amenities, including fitness facilities, relaxation zones, and communal spaces designed to promote both physical well-being and social interaction, said a statement.

The launch of SquareX One represents a key phase in Tasmeer Indigo Properties’ growth strategy. The company’s focus is on delivering designed, future-ready residential communities supported by robust development fundamentals and construction certainty, it added.

Khyzer Altaf, President of Tasmeer Indigo Properties said, “The strong demand for SquareX Residence demonstrated a clear shift in buyer priorities toward projects that combine lifestyle appeal with execution credibility. With SquareX One, sales are underway, the escrow account is live, and construction has officially commenced. The project is structured to perform both as a home and as a long-term income-generating asset.”

The development responds to shifting market preferences toward flexible living formats, short-term rental potential, and design-led spaces that balance comfort with functionality. It introduces further enhancements in spatial efficiency, construction coordination, and shared amenities to meet the evolving expectations of today’s urban residents and investors, the developer stated.

SquareX One will boast upgraded architectural finishes, enhanced lifestyle amenities, and curated communal spaces that prioritise privacy, wellness, and social interaction. As Tasmeer Indigo Properties continues to solidify its presence in Dubai’s real estate market, this project exemplifies their commitment to delivering projects that prioritise execution certainty, construction quality, and long-term value creation, the statement concluded.

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Egis has completed its role as lead design consultant and construction supervisor for the Natural History Museum Abu Dhabi. The Natural History Museum Abu Dhabi forms a key component of the emirate’s Cultural District world-renowned for advancing education, scientific research, and global knowledge exchange, the firm said in a statement.

Located in the Saadiyat Cultural District, adjacent to the Louvre Abu Dhabi, the museum officially opened to the public late 2025. Spanning more than 35,000sqm across two principal buildings connected by a landscaped pedestrian wadi, the project combines dynamic exhibition environments, research facilities, public education spaces, and an immersive theatre experience within a carefully controlled and protected waterfront site.

Egis said it was appointed in March 2021, joining the project at schematic design stage, with responsibility for translating an internationally noteworthy architectural concept into a fully coordinated, buildable and operationally robust facility. The consultant remained engaged through detailed exhibition design, authority approvals, construction supervision, and final delivery.

“The Natural History Museum Abu Dhabi is one of the most complex cultural projects delivered in the region, bringing together research, education, and immersive public experiences. Working with Egis has been key to realising this vision, ensuring the museum’s architectural ambition is matched by rigorous design coordination and operational excellence,” said Pavel Pascu, Acting Exhibition Production Unit Head at Natural History Museum Abu Dhabi.

As Lead Design Consultant, Egis assumed full responsibility for coordinating a comprehensive multidisciplinary scope, including exhibition design, architect of record services, structural and civil engineering, building services (MEP, AVIT and security), facade and access systems, fire and life safety, acoustics, infrastructure, marine and coastal engineering, environmental consultancy, and on-site construction supervision, the firm said.

Dr Ali Amiri, Buildings Director, Egis Group noted, “Projects of this scale and visibility succeed on seamless programme management and integration. Our role was just that – to bring architecture, engineering, immersive content, and construction delivery into a single, coordinated system. From schematic design through opening, we worked closely with our partners to ensure that complexity was managed without diluting design intent, visitor experience, or operational resilience.”

Sustainability and operational efficiency were embedded throughout the design approach, with energy-efficient systems, environmentally responsible materials, and green building certification requirements incorporated to support long-term performance, the firm said.

Moreover, the project required advanced engineering solutions to support sensitive exhibition environments, immersive digital installations, long-span spaces, and long-term operational resilience. Egis applied rigorous technical analysis, digital coordination, and performance-led design methodologies to resolve these challenges while maintaining the architectural integrity of Mecanoo’s concept, developed under the design theme of ‘Architecture as Landscape’, the statement concluded.

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The 16^th edition of the annual Big Project Middle East Awards (BPME Awards) took place at the Ritz Carlton JBR on 11 February and recorded nearly 180 people in attendance from key Middle East Markets including the UAE, Saudi Arabia, Qatar and Egypt.

Excellence was recognised and celebrated across 23 different categories, split across five groups: individuals, sustainability, developers, companies and projects.

The event was organised by CPI Trade Media, a construction focused media company, which publishes Big Project Middle East (BPME) and several other construction titles. Trimble supported the event as a Presenting Partner.

The BPME editorial team confirmed that over 150 nominations were received across the awards’ 31 categories, however the editorial team confirmed that following two rounds of judging, excellence was only recognised across 23 distinct categories – with the weakest nominations and categories being dropped following a tally of the judges’ votes.

The judges for the 2026 BPME Awards were:

• Cheryl Cairns, Partner at Trowers & Hamlins
• Christian Somerville, Head of Project Management UAE at Compass
• Gurminder Sagoo, Chief Commercial Officer, Middle East & South Asia at Egis
• Laura Morgan, Cost Estimation Lead, Middle East at Focal
• Rola Nasreddine, Executive Director at Springs Global Consultancy
• Clayton Vallabhan, Deputy Editor, Construction Division at CPI Trade Media
• Jason Saundalkar, Editorial Director at CPI Trade Media
• Priyanka Raina, Associate Editor, Construction Division at CPI Trade Media

“For the 16^th edition of the Big Project Middle East Awards, we made a few changes to our long standing format and for the first time – where voting showed a strong second contender – we recognised an honourable achievement recipient, in addition to the overall category winner. Conversely, in categories where one winner stood out and/or the other nominations in that category weren’t up to the mark, the BPME team decided on recognising excellence without publishing a shortlist. In total, the BPME Award recognised excellence by awarding 23 trophies and 14 honourable achievement plaques. Congratulations to everyone that made the shortlist and were recognised with an award,” said Jason Saundalkar, Editorial Director at CPI Trade Media.

The shortlist, honourable achievement recipients and award winners for the 16^th edition of the Big Project Middle East Awards are as follows:

Individual Awards

Big Project Middle East’s Young Professional of the Year

• Keerthana Krishnan R S, DCIB Construction
• Muhammad Hisan, Eiman Builders & Developers

Winner: Keerthana Krishnan R S, DCIB Construction

Big Project’s Mentor of the Year

• Ahmed ElHadidi, WSP
• Amr Metwally, Engineering Contracting Company
• Lavinia Melilla, Parsons
• Moawya Hamza, AECOM

Honourable Achievement: Amr Metwally, Engineering Contracting Company
Winner: Dr. Lavinia Melilla, Parsons

Big Project’s Team of the Year

No shortlist

Winner: HTS Interiors

Big Project Middle East’s Woman of the Year

• Anita Nouri, Green Growth Planning Consultancy
• Johanna Niebuhr, CSQ Project Development Consultancy
• Maitha Al Shamsi, Parsons
• Mariam Azmy, Innovo Group
• Sandra Woodall, tangramMENA

Honourable Achievement: Sandra Woodall, tangramMENA
Winner: Mariam Azmy, Innovo Group

Big Project Middle East’s Executive of the Year

• Ammar Al Assam, Dewan Architects and Engineers
• Nidal Hassoun, Engineering Contracting Company
• Nitin Nadukandy, HTS Interiors
• Ryan Bray, CSQ Project Development Consultancy

Honourable Achievement: Ryan Bray, CSQ Project Development Consultancy
Winner: Nidal Hassoun, Engineering Contracting Company

Sustainability Awards

Sustainable Contractor of the Year

• Hassan Allam Construction
• ISG Middle East
• Peninsula Engineering Group
• Sobha Constructions

Honourable Achievement: Hassan Allam Construction
Winner: Sobha Constructions

Sustainable Project of the Year

• The Peninsula, Plot B, Engineering Contracting Company
• Stonehenge Residence SH I, Segrex Development
• Waves Opulence Project, Sobha Constructions
• Yanmu East Logistics Park, Hassan Allam Construction

Honourable Achievement: The Peninsula, Plot B, Engineering Contracting Company
Winner: Waves Opulence Project, Sobha Constructions

Developer Awards

Mid-sized Developer of the Year

• Aurora Real Estate Development
• TownX

Winner: Aurora Real Estate Development

Large Developer of the Year

No shortlist

Winner: Danube Properties

Company Awards

Skills Development Programme of the Year

No shortlist

Winner: Hassan Allam Construction

Fit-Out Contractor of the Year

• DCIB Construction
• DEPA
• ECC Fit-Out& Construction
• Frankly Built Contracting
• HTS Interior
• Khansaheb Interiors
• Top Rock Interiors

Honourable Achievement: DEPA
Winner: Khansaheb Interiors

MEP Contractor of the Year

• China State Construction Engineering Corporation M.E.
• Innovo Group
• Royal Advance Electromechanical
• United Masters Electromechanical

Honourable Achievement: China State Construction Engineering Corporation M.E.
Winner: Innovo Group

Infrastructure Contractor of the Year

• China State Construction Engineering Corporation M.E.
• Hassan Allam Construction

Winner: China State Construction Engineering Corporation M.E.

Mid-sized Contractor of the Year

No shortlist

Winner: Hennessey

Large Contractor of the Year

• ALEC Engineering & Contracting
• China State Construction Engineering Corporation M.E.
• Engineering Contracting Company
• Hassan Allam Construction
• Innovo Group

Honourable Achievement: ALEC Engineering & Contracting
Winner: Innovo Group

Project Awards

Fit-Out Project of the Year

• Avli Bahrain, Grok for Project Management Services
• Desert Rock, Red Sea, DEPA
• Dubai Founders HQ, DCIB Construction
• Heriot-Watt University, Khansaheb Civil Engineering
• Innovative Learning Center Al Safa, Dutco Interiors
• Office Fit Out Business Park Dubai Hills, Frankly Built Contracting
• Office Square – Nation Towers, Abu Dhabi, HTS Interiors
• Oman Public Prosecution HO Building, Engineering Innovation Design & Consulting

Honourable Achievement: Innovative Learning Center Al Safa, Dutco Interiors
Winner: Desert Rock, Red Sea, DEPA

MEP Project of the Year

• Aquaarabia, Dewan Architects + Engineers
• The Wasl Tower, SEED Engineering Consultants

Winner: The Wasl Tower, SEED Engineering Consultants

Refurbishment & Retrofit Project of the Year

• Al Maryah Tower, CSQ Project Development Consultancy
• Al Multaqua Ballroom & Al Wasl Redevelopment Project DWTC, DCIB Construction
• Al Salamlek Palace, Hassan Allam Construction
• Innovative Learning Center Al Safa, Dutco Interiors
• Julphar Avenue and Towers, RAK, HTS Interiors
• King Abdullah Financial District Residential Uplift Project, Parsons
• Tashas Café Galleria Mall Refurbishment, Grok for Project Management Services

Honourable Achievement: Innovative Learning Center Al Safa, Dutco Interiors
Winner: King Abdullah Financial District Residential Uplift Project, Parsons

Project of the Year – Water

• Buriydah& Al Madinah Project, Hassan Allam Construction
• Dammam ISTP Project, Metito Utilities
• Shuqaiq 4 SWRO, ACCIONA and RTCC JV for Saudi Water Authority

Winner: Shuqaiq 4 SWRO, ACCIONA and RTCC JV for Saudi Water Authority

Project of the Year – Infrastructure & Transport

• Al Faya Razeen, Innovo Infra
• North Luxor Axis Project, Hassan Allam Roads & Bridges
• Riyadh Metro, Parsons

Honourable Achievement: Riyadh Metro, Parsons
Winner: Al Faya Razeen, Innovo Infra

Project of the Year – Leisure, Retail & Hospitality

• Aquarabia, Dewan Architects + Engineers
• GEM Khufu Solar Boat Museum, Hassan Allam Construction
• Shebara Resort, Red Sea, DEPA
• The District – The Dubai Mall, Dutco Interiors
• W Marriott Hotel, KAFD, Parsons
• Zayed National Museum Water Feature, Innovo Group

Honourable Achievement: Shebara Resort, Red Sea, DEPA
Winner: Zayed National Museum Water Feature, Innovo Group

Project of the Year – Commercial

• Acquisition Dune Management Services Dubai Hills Business Park Office, Frankly Built Contracting
• Lusail Commercial Boulevard, Parsons and Qatari Diar
• Office Square Nation Towers Mall, Abu Dhabi, HTS Interiors
• The Dubai Exhibition Centre Legacy Expansion – Phase 1, Khansaheb Civil Engineering

Honourable Achievement: Lusail Commercial Boulevard, Parsons and Qatari Diar
Winner: The Dubai Exhibition Centre Legacy Expansion – Phase 1, Khansaheb Civil Engineering

Project of the Year – Residential

• Al Mamsha, Alef Group
• Azizi Milan, Azizi Developments
• Curve DiLusso, Alpago Group
• Grand Bleu Tower, Engineering Contracting Company
• Louvre Residences, Innovo Group
• Serenia Living, Khansaheb Civil Engineering
• The Address Beach Resort Marassi, Hassan Allam Construction
• The St. Regis Branded Residences, SEED Engineering Consultants

Honourable Achievement: The St. Regis Branded Residences, SEED Engineering Consultants
Winner: Serenia Living, Khansaheb Civil Engineering

To learn more about the Big Project Middle East awards, click here.

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LEOS Developments has shared an update on construction progress at Knightsbridge, its residential development in Meydan District 11, Dubai. The firm said the project is scheduled for completion in Q4 2027 and said that 78% of the units have been sold.

Knightsbridge is a boutique waterfront community inspired by British architectural heritage. It comprises 112 exclusive homes, including 5 and 6 bedroom waterfront villas and 4-bedroom townhouses. Developed within a lagoon-led masterplan, the project integrates advanced environmental technologies with timeless design, prioritising wellness and sustainability in everyday living, the developer said.

Jake Jacobs, Chief Executive Officer at LEOS Developments said, “Knightsbridge reflects how residential development in Dubai is evolving. Buyers are increasingly focused on communities that are designed to perform over time environmentally, socially, and commercially. Our focus with this project has been to create a climate-adaptive environment that responds to Dubai’s future needs, while delivering a living experience rooted in quality, sustainability, and long-term relevance.”

Architecturally, Knightsbridge blends classic British elegance with modern innovation. Bay-style windows maximise natural light, while curved forms and carefully selected materials enhance thermal efficiency and climate control. Interiors are crafted using premium biodegradable and sustainable materials, designed by British designers. The spaces are finished with natural tones, marble and wood accents, and kitchens that reflect craftsmanship and contemporary living, said a statement from the developer.

The development stands out for its climate-adaptive approach, with over 70% of the community dedicated to greenery and open spaces. Regenerative sustainable lagoons, re-oxygenating waterfalls, shaded pedestrian routes, and climate-responsive architecture are designed to enhance comfort while minimising environmental impact, it added.

The community is said to offer amenities, including swimmable lagoons, running tracks, yoga spaces inspired by Japanese Rapha practices, outdoor cinemas, fresh harvest gardens, stargazing zones, private wellness areas, and fully smart homes equipped with AI-enabled security and automation.

Strategically located in the Meydan District 11, Knightsbridge enjoys direct access to Dubai’s major road networks, including E66 and E311. This ensures connectivity to key business and lifestyle destinations, thereby enhancing the project’s appeal to both end-users and long-term investors, the statement concluded.

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Ellington Properties has announced the launch of The Meriva Collection, a new beachfront development located on Island B of Dubai Islands. The launch represents a significant milestone for the brand, introducing Ellington’s first hospitality-led project alongside a curated collection of beachfront residences designed to balance living, staying, and everyday resort-style experiences, the firm said in a statement.

The Meriva Collection comprises 5 premium residential buildings, a signature beachfront residence, and a dedicated hotel, all with direct access to the beach. The residential offering includes a range of 1-4 bedroom apartments and penthouses, many with study spaces and uninterrupted sea views, alongside a limited collection of 3- and 5-bedroom signature beachfront residences featuring private pools, a rooftop gym, and direct shoreline access.

Positioned at the heart of the masterplan, the dedicated hotel acts as the social and visual anchor of the development, activating the waterfront while remaining closely integrated with the surrounding residences. Managed by a reputable hospitality operator, it is designed to enhance the destination’s vibrancy and support long-term community activation, as Dubai Islands continues to gain momentum as a waterfront lifestyle hub. According to Betterhomes Research, the area recorded more than $1.67bn in property sales in the first half of 2025, reflecting growing demand for integrated residential and hospitality-led developments, the statement said.

Joseph Thomas, Co-Founder of Ellington Properties said, “The real estate market is maturing, and with that comes a shift in what creates lasting value. Developments today extend beyond residential use to function as destinations. The Meriva Collection reflects thinking, design discipline and hospitality to create places that remain relevant well beyond launch, while staying closely connected to their natural and urban surroundings.”

The Meriva Collection is said to reflect Ellington’s design-led philosophy through an architectural approach that encourages a fluid relationship between indoor and outdoor living. Landscaped promenades, shaded walkways, and pedestrian-first planning shape the masterplan, supported by integrated retail, dining, and leisure spaces that contribute to everyday well-being.

Shared amenities are thoughtfully planned to support both active and relaxed lifestyles. These include both indoor and outdoor swimming pools, fitness and yoga and Pilates studios, a 2km jogging track and sports facilities, as well as wellness zones and family-friendly spaces. Social and creative spaces include a jazz club, co-working and F&B areas, as well as a juice bar, adding depth to the community experience and reinforcing The Meriva Collection as a place to live, connect, and unwind, the statement concluded.

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Procter and Gamble (P&G) has partnered with Yellow Door Energy to commission a solar carport power plant. The official commissioning ceremony was held at P&G UAE Head Office – senior representatives from P&G, Yellow Door Energy, and Value Addition – the EPC contractor – were present.

The 500 kilowatt-peak (kWp) solar carport, now fully operational at P&G UAE’s headquarters in Jebel Ali Freezone Authority (JAFZA), will generate a substantial amount of clean electricity. In its first year, it is projected to produce 816,500 kilowatt-hours (kWh), which will supply more than 50% of the building’s annual electricity needs.

This solar carport comprises over 870 high-efficiency bifacial solar panels. These panels will not only maximise on-site renewable energy generation but also provide shade to 144 parking spaces. The project’s impact extends beyond electricity generation, as it is expected to reduce carbon emissions by 330,000kg annually. This aligns with P&G’s Net Zero by 2040 goal and supports the UAE’s Net Zero by 2050 Clean Energy Strategy, said a statement.

Sonali Dhawan, General Manager for P&G Gulf said, “At P&G, environmental sustainability is embedded in how we do business. The solar lease with Yellow Door Energy demonstrates our commitment to sustainability by integrating solar power into our Dubai office. Commissioning this solar carport is a tangible step towards reducing our environmental footprint at our UAE head office whilst advancing our global climate goals. This aligns with our company’s sustainability ambitions of Net Zero by 2040.”

Jeremy Crane, Group CEO of Yellow Door Energy commented, “We are proud to commission this solar carport with P&G, delivering clean electricity that will power more than 50% of the company’s UAE head office and contribute to the UAE Energy Strategy. With over 1.1 billion kilowatt-hours of clean electricity generated across seven countries, Yellow Door Energy continues to earn the trust of leading multinational corporations as their preferred sustainable energy partner.”

Yellow Door Energy said it is responsible for financing, designing, constructing, commissioning, operating, and maintaining the solar plant throughout its lease term. Solar leasing allows businesses to reduce their energy costs without any upfront investment or operational risks, enabling them to focus on their core operations while enjoying the benefits of clean energy.

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JLL has appointed Mouhammad Takieddin as its new Regional Head and CEO for the Middle East and Africa (MEA) region. This appointment reinforces the company’s commitment to the region and strengthens its leadership in the region’s dynamic real estate market, said a statement from JLL.

Based in Riyadh, Takieddin’s appointment aligns with JLL’s strategic objectives for emerging market opportunities and accelerates business line development in critical areas such as data centres, facilities management, and AI-driven technology platforms.

His leadership experience and presence in the Saudi capital will further elevate the company’s market visibility, underscoring the firm’s commitment to its clients, people, and business operations within the Kingdom and beyond. He will work alongside James Allan who oversees the UAE, Egypt and Africa markets, and Saud Alsulaimani who oversees Saudi Arabia, to expand business lines across the wider region.

Neil Murray, CEO, Real Estate Management Services, JLL said, “Saudi Arabia remains central to our long-term growth strategy in the Middle East and Africa, and Mouhammad Takieddin’s appointment reaffirms our commitment to continued investment in the Kingdom’s future growth. Mouhammad’s deep industry knowledge will enable us to enhance our growth focus in AI, data centres and facilities management in the Saudi and wider market. His international expertise will be crucial in driving operational excellence and accelerating regional service delivery and client expansion across different markets in the region.”

Takieddin joins JLL from Procter & Gamble (P&G), where he spent the last 25 years, and for the last 5 years served as Vice President of Global Real Estate and Facilities, leading its portfolio of offices, research and development centres, manufacturing plants and distribution centres across AMER, EMEA and APAC. During his time at P&G, he also drove large-scale real estate projects, portfolio optimisation, workplace and FM transformation, digital enablement and real estate-led sustainability initiatives aligned with the company’s 2030 Sustainability Ambition, the statement outlined.

In his role at JLL, Takieddin’s expertise in digital transformation will be instrumental in establishing new regional specialisation in data centres and facilities management. He will also be responsible for scaling the latest digital technologies, including AI, within real estate services to enhance efficiency, the firm confirmed.

Takieddin commented, “I am excited to join JLL and lead its exceptional team of professionals across the Middle East and Africa to build on emerging market opportunities and strengthen JLL’s position in the region. I look forward to collaborating with James Allan and Saud Alsulaimani, drawing on their expertise and knowledge of the region to further our strategic growth. We are firmly focused on solidifying our market leadership and prioritising long-term value creation for clients. This will be achieved by leveraging JLL’s global expertise, scaled platforms, cutting-edge AI solutions, and integrated service offerings across all asset classes to drive growth in the region’s rapidly evolving real estate sector.”

Takieddin’s appointment complements JLL’s existing Public Investment Fund of Saudi Arabia (PIF) relationship through the Saudi Facilities Management Company (FMTECH) ownership stake, and aligns with the firm’s goals of growing its facilities management presence in key industry segments like data centres and AI-driven technology platforms.

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AD Ports Group has signed a 30-year concession agreement with Aqaba Development Corporation (ADC) to manage and operate the Aqaba Multipurpose Port. Jordan’s sole and exclusive general cargo and multipurpose seaport, will benefit from the group’s investments in the coastal city’s logistics infrastructure, said a statement.

The agreement establishes a joint venture (JV) between AD Ports Group and ADC. AD Ports Group will hold 70% ownership, while ADC will retain the remaining 30%. In addition to the ownership stake, AD Ports Group will invest a substantial US $38.4mn in the JV. The group will also bring its extensive port development and operational expertise to the transaction. AD Ports Group said that it anticipates formally assuming operations of the port in August of this year.

The signing ceremony took place at the headquarters of the Aqaba Special Economic Zone Authority (ASEZA) in Aqaba. The event was attended by Counselor Hamad Al Matrooshi, Chargé d’Affaires of the UAE Embassy in Amman; H.E. Shadi Majali, Chief Commissioner of the Aqaba Special Economic Zone Authority; and Captain Mohamed Juma Al Shamisi, Managing Director & Group CEO of AD Ports Group. The agreement was signed by H.E. Hussein Safadi, CEO of Aqaba Development Corporation, and Ahmed Al Mutawa, Regional Chief Executive Officer of AD Ports Group.

Al Shamisi noted, “Today’s signing represents a continuation of the strong and enduring economic cooperation between the two countries, including the development initiatives implemented by AD Ports Group in Aqaba City. This aligns with the directives of our wise leadership to strengthen cooperation with the Hashemite Kingdom of Jordan and to support the Kingdom’s vision of transforming the Port of Aqaba into a leading commercial gateway in the Red Sea region.”

“This agreement further strengthens AD Ports Group to drive long-term, transformative economic impact in the region, enabling further business growth in support of the aspirations of our partners in Jordan. We extend our appreciation to our partners at the Aqaba Development Corporation for their confidence in AD Ports Group as a strategic partner in driving growth in Aqaba City and contributing to the advancement of its economic ecosystem. We look forward to further strengthening our long-term partnership, founded on collaboration to achieve shared interests and mutual benefits,” he added.

Shadi Majali, Chief Commissioner of the Aqaba Special Economic Zone Authority (ASEZA) commented, “This strategic partnership represents a key milestone in advancing Aqaba’s role as a competitive and integrated economic zone. The development of the Aqaba Multi-Purpose Port, in collaboration with AD Ports Group, reinforces ASEZA’s mandate to create an enabling regulatory and investment environment that supports efficient trade, high-value logistics services, and sustainable economic growth.”

“This project will enhance Aqaba’s attractiveness as a regional logistics, industrial, and tourism hub, while strengthening connectivity with regional and international markets. It also reflects the effectiveness of close coordination between national institutions, the private sector, and international partners in delivering transformative projects that generate employment, stimulate investment, and contribute to long-term economic resilience. ASEZA remains fully committed to facilitating this project through streamlined procedures, investor-friendly policies, and continuous support, ensuring that Aqaba continues to serve as a strategic gateway for Jordan and the wider region,” he added.

Safadi stated, “We look forward to working with AD Ports Group, ADC’s strategic partner, to further develop and position Aqaba Multi-Purpose Port as a central trade and transport hub in the upper Red Sea region. Leveraging AD Ports Group’s expertise, global connectivity, digital trade solutions, and its expanding regional ports and maritime network, Aqaba is set to continue its rapid evolution into a world-class logistics and trade hub that generates sustainable economic growth.”

“This collaboration strengthens Aqaba’s ecosystem across logistics, tourism and port services, we are pleased to welcome this important step forward with AD Ports Group. We are confident that this partnership will play a pivotal role in driving sustainable economic growth for Aqaba and the Kingdom as a whole, and we are pleased to welcome this important milestone with AD Ports Group as we move forward together in delivering a world-class logistics and trade hub,” he said.

The Port of Aqaba is located at the intersection of 3 continents, and serves as Jordan’s primary gateway for international trade. It handles 80% of the country’s exports and 65% of its imports. Additionally, Aqaba acts as a crucial transit point for the trade of neighboring countries, including Saudi Arabia and Iraq.

The Aqaba Multipurpose Port represents AD Ports Group’s most significant infrastructure investment in Jordan to date. Since 2021, the group has collaborated closely with ADC to develop various infrastructure projects in Aqaba, including tourism, transport, logistics, and digital trade. These initiatives include the development and operation of the Aqaba Cruise Terminal, which enhances the city’s connectivity as a regional cruise destination. Furthermore, the Maqta Ayla Joint Venture is constructing a digital Port Community System (PCS) to streamline cargo processing, the firm said.

In January 2025, AD Ports Group appointed MAG Group Holding to spearhead the initial phase of development for Marsa Zayed. This project aims to transform Marsa Zayed into a 3.2m sqm beachfront tourism and business community in Aqaba. The vision is to elevate Aqaba as a regional tourism hub and a gateway to the Red Sea, the statement concluded.

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Source: MEConstructionNews

NORD Real Estate Development has launched NOVAYAS, which is taking shape on Yas Island. Valued at approximately US $81.7mn, the project marks a strategic addition to Abu Dhabi’s evolving real estate landscape, combining thoughtful architecture, lifestyle-driven design, and long-term investment appeal in one of the emirate’s most sought-after destinations, the statement said.

Located close to the upcoming Disneyland project and minutes from Ferrari World and Yas Island’s major attractions, NOVAYAS occupies a highly strategic location that places residents at the intersection of leisure, connectivity, and everyday urban convenience. The development provides seamless access to Abu Dhabi city centre and Dubai, reinforcing its appeal to both end users and investors seeking well-positioned residential assets.

Designed as a refined urban sanctuary with a dedicated retail space, NOVAYAS comprises 96 residential units. Architecturally, NOVAYAS is said to be defined by contemporary forms, fluid lines, and layered façades that enhance visual openness and natural light. Expansive balconies and floor-to-ceiling glazing create a strong connection between indoor and outdoor living, while landscaped surroundings and pedestrian-friendly access contribute to a composed and welcoming residential environment. Select residences benefit from views toward Disneyland and surrounding Yas Island attractions, the developer said.

Interiors are designed with an emphasis on functionality, clarity, and warmth. Light-filled living spaces, neutral material palettes, and efficient layouts support modern lifestyles, while maintaining a timeless residential character. Amenities including swimming pools for adults and children, a fully-equipped gym, an outdoor cinema, a children’s play area, and dedicated parking with EV charging further reinforce the development’s focus on everyday comfort and quality of life, the firm added.

Commenting on the launch, Maher Rahabi, CEO of Nord Development said, “NOVAYAS reflects our vision of crafting lifestyle-driven communities that deliver enduring value. As Yas Island continues to evolve as one of Abu Dhabi’s most compelling destinations, this development responds to that momentum with a residential offering defined by refined living, thoughtful design quality, and long-term relevance. Its proximity to wonder, only 300m away from the upcoming Disneyland, is unlocking endless possibilities to extraordinary experiences that become part of everyday life. This combination positions NOVAYAS as a highly coveted residential address with high ROI for investors and exceptional value for future residents.”

With NOVAYAS, NORD continues to strengthen its position as a design-led Abu Dhabi-based developer, delivering residential projects that are grounded in market insight, strategic location selection, and a commitment to long-term urban value, the statement concluded.

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Source: MEConstructionNews